S Korea to expand tax benefits for R&D spending on robotics

Seoul

SOUTH Korea's government plans to expand tax benefits for research and development of robotics and other technologies as it seeks out industries that could become new economic growth engines.

Up to 30 per cent of R&D expenses will be tax deductible for companies across 11 key sectors starting 2017, the Ministry of Strategy and Finance said in its annual review of the tax code on Thursday.